I have been extremely busy and haven’t had too much time to write like I would like to, but I like to have quiet markets–I don’t feel like I am missing out on too much.
The 10 year treasury is drifting–off a basis point or two and the DJIA is off 66 points–both of these are about as quiet as it gets.
In a note Gridbird mentioned the trust preferred shares of Hillman Group (a private company) and I have done a little digging on the shares as they are trading at $28.42 and have been redeemable since 2002 and mature in 2027. Shares carry a coupon of 11.6%
We find this intriguing as shares traded as high as $34 in the last couple months–down over $6/share. Are the shares going to be redeemed finally?